Torchmark Co. (TMK) Shares Bought by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its stake in Torchmark Co. (NYSE:TMK) by 6.3% during the third quarter, HoldingsChannel.com reports. The firm owned 162,439 shares of the insurance provider’s stock after purchasing an additional 9,661 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Torchmark were worth $14,081,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Riverhead Capital Management LLC raised its holdings in Torchmark by 28.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 31,038 shares of the insurance provider’s stock worth $2,527,000 after purchasing an additional 6,877 shares during the period. Cubist Systematic Strategies LLC raised its holdings in Torchmark by 69.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 28,011 shares of the insurance provider’s stock worth $2,280,000 after purchasing an additional 11,495 shares during the period. Bank of New York Mellon Corp raised its holdings in Torchmark by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,498,890 shares of the insurance provider’s stock worth $122,025,000 after purchasing an additional 203,149 shares during the period. Flinton Capital Management LLC raised its holdings in Torchmark by 27.5% in the 2nd quarter. Flinton Capital Management LLC now owns 19,648 shares of the insurance provider’s stock worth $1,600,000 after purchasing an additional 4,240 shares during the period. Finally, Sumitomo Life Insurance Co. raised its holdings in Torchmark by 4.5% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 17,184 shares of the insurance provider’s stock worth $1,399,000 after purchasing an additional 737 shares during the period. 74.33% of the stock is currently owned by institutional investors.

In other Torchmark news, insider John Henry Rogers, Jr. sold 1,875 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $88.16, for a total value of $165,300.00. Following the completion of the sale, the insider now owns 1,875 shares in the company, valued at approximately $165,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bill Leavell sold 187,500 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $88.10, for a total value of $16,518,750.00. Following the completion of the sale, the insider now owns 18,750 shares of the company’s stock, valued at approximately $1,651,875. The disclosure for this sale can be found here. Insiders sold a total of 367,243 shares of company stock valued at $32,395,055 in the last quarter. 3.68% of the stock is currently owned by company insiders.

Shares of TMK stock opened at $84.66 on Thursday. Torchmark Co. has a 52-week low of $80.34 and a 52-week high of $93.60. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90.

Torchmark (NYSE:TMK) last issued its quarterly earnings results on Wednesday, October 24th. The insurance provider reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.06. Torchmark had a return on equity of 11.53% and a net margin of 36.42%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.07 billion. Analysts expect that Torchmark Co. will post 6.13 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Friday, October 5th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $0.64 dividend on an annualized basis and a yield of 0.76%. Torchmark’s payout ratio is presently 13.28%.

TMK has been the topic of a number of recent research reports. Zacks Investment Research cut Torchmark from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Morgan Stanley raised their target price on Torchmark from $80.00 to $81.00 and gave the stock an “underweight” rating in a report on Thursday, July 26th. Goldman Sachs Group cut Torchmark from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $92.00 to $78.00 in a report on Monday, September 10th. Finally, SunTrust Banks decreased their target price on Torchmark from $89.00 to $84.00 and set a “hold” rating on the stock in a report on Monday. Four analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $85.25.

Torchmark Profile

Torchmark Corporation, through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment offers traditional and interest-sensitive whole life and term life insurance, and other life insurance.

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Want to see what other hedge funds are holding TMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Torchmark Co. (NYSE:TMK).

Institutional Ownership by Quarter for Torchmark (NYSE:TMK)

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